- EUR/JPY extends recent gains and breaks through the 137.00 hurdle.
- Above the two-month support line, further gains are likely.
EUR/JPY extends the march north for the third consecutive session beyond the 137.00 barrier at the beginning of the week.
The cross broke above the 136.80 region and in doing so opened the door for further gains up to initially the May high of 138.31 (May 9) before the 2022 high of 140.00 (April 21).
Meanwhile, if it remains above the two-month support line around 134.65, the short-term outlook for the cross should remain bullish.
EUR/JPY day chart
Source: Fx Street
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